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College Degree Still Worth the Price of Tuition

Friday, August 24, 2012 - 11:30am

 Even with the rising cost of tuition, going to college is still a smart decision.

A new study by Georgetown University and the Lumina Center shows that almost all of the new jobs being created are going to college graduates.

Nearly six million jobs requiring a high school diploma have disappeared since the recession began. But for college graduates, approximately two million jobs have been created.

Because of that, a degree is worth, on average, $1.3 million over a graduate’s lifetime.

"When I looked at tuition, i made sure to stay in-state,” said Charity Warlick, a freshman history major, “because I'm just going to be a teacher, and the salary, I couldn't go out of state, because I'd be in too much debt."

"I think if you work hard, you get a degree, and you can do the job, you can get well paid in any position," said Chen Fang, a graduate student who studies computer science.

If you want to maximize your child's earnings potential, give them an early appreciation of mathematics. According to four researchers from Drexel University, each of the 15 highest-paying degrees are numbers-based.

1) Pre-med: $100,000

2) Computer Systems Engineering: $85,000

3) Pharmacy: $84,000

4) Chemical Engineering: $80,000

5) Electrical and Electronics Engineering: $75,000

T-5) Mechanical Engineering: $75,000

7) Aerospace Engineering: $74,000

8) Computer Science: $73,000

T-8) Industrial Engineering: $73,000

10) Physics and Astronomy: $72,200

11) Civil Engineering: $70,000

12) Electrical and Electronics Engineering Technology: $65,000

13) Economics: $63,300

14) Financial Management: $63,000

T-14) Mechanical Engineering Techonology: $63,000

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